No it will not. Plus with XP Home (with two computers in my home) I sue the
XP installation CDs interchangeably to run System File Checker. So it may be
the case that you can borrow a CD from a neighbor and perform the test. But
if you cannot access your CD drive obviously this is not an option.
Finally, try to boot in Safe Mode (tapping F8 a few times while booting).
Good luck as it looks like you have a precarious problem here.